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Bashneft

May 11, 2016

Bashneft places two issues of exchange-traded bonds worth 15 billion roubles

Today, Bashneft has placed series BO-06 and BO-08 exchange-traded bonds with a par value of 10 billion roubles and 5 billion roubles respectively (ID numbers of the issues: 4B02-06-00013-A and 4B02-08-00013-A dated July 22, 2013) and the coupon rate of 10.9% per annum. These issues of exchange-traded bonds have a put option in 2025 and allow early redemption at the discretion of the Company in 2021 (series BO-06 bonds) and in 2022 (series BO-08 bonds).

On May 10, 2016, Bashneft bought out all series BO-03 exchange-traded bonds (worth a total of 5 billion roubles) before their maturity date at a price totalling 101.3% of the par value of the issue. This series of exchange-traded bonds had a put option in 2020 and the coupon rate of 12% per annum.

'Transactions in the Company’s bonds are aimed at optimizing its debt portfolio, including extension of the tenor of debt and a reduction in borrowing costs,' commented Alexey Lisovenko, Bashneft’s Vice President for Economics and Finance and Chief Financial Officer.

Bank GPB (JSC) acted as the agent for the buyback and the arranger of placement of the new exchange-traded bond issues.

 

 

 

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